The Russian economy underwent tremendous stress as it moved from a centrally planned economy to a free market system. Difficulties in implementing fiscal reforms aimed at raising government revenues and a dependence on short-term borrowing to finance budget deficits led to a serious financial crisis in 1998.

Lower prices for Russia’s major export earners (oil and minerals) and a loss of investor confidence due to the Asian financial crisis exacerbated financial problems. The result was a rapid decline in the value of the ruble, flight of foreign investment, delayed payments on sovereign and private debts, a breakdown of commercial transactions through the banking system, and the threat of runaway inflation.

Russia, however, appears to have weathered the crisis relatively well. As of 2009 real GDP increased by the highest percentage since the fall of the Soviet Union at 8.1%, the ruble remains stable, inflation has been moderate, and investment began to increase again. In 2007 the World Bank declared that the Russian economy had achieved “unprecedented macroeconomic stability”.

Russia is making progress in meeting its foreign debts obligations. During 2000-01, Russia not only met its external debt services but also made large advance repayments of principal on IMF loans but also built up Central Bank reserves with government budget, trade, and current account surpluses. The FY 2002 Russian Government budget assumes payment of roughly $14 billion in official debt service payments falling due.

Large current account surpluses have brought a rapid appreciation of the ruble over the past several years. This has meant that Russia has given back much of the terms-of-trade advantage that it gained when the ruble fell by 60% during the debt crisis. Oil and gas dominate Russian exports, so Russia remains highly dependent upon the price of energy. Loan and deposit rates at or below the inflation rate inhibit the growth of the banking system and make the allocation of capital and risk much less efficient than it would be otherwise.

In 2003, the debt has risen to $19 billion due to higher Ministry of Finance and Eurobond payments. However, $1 billion of this has been prepaid, and some of the private sector debt may already have been repurchased. Russia continues to explore debt swap/exchange opportunities.

In the June 2002 G8 Summit, leaders of the eight nations signed a statement agreeing to explore cancellation of some of Russia’s old Soviet debt to use the savings for safeguarding materials in Russia that could be used by terrorists. Under the proposed deal, $10 billion would come from the United States and $10 billion from other G-8 countries over 10 years.

On January 1, 2004, the Stabilization fund of the Russian Federation was established by the Government of Russia as a part of the federal budget to balance it if oil price falls. Now the Stabilization fund of the Russian Federation is being modernized. The Stabilization Fund will be divided into two parts on February 1, 2008.

The first part will become a reserve fund equal to 10 percent of GDP (10% of GDP equals to about $200 billion now), and will be invested in a similar way as the Stabilization Fund. The second part will be turned into the National Prosperity Fund of Russian Federation. Deputy Finance Minister Sergei Storchak estimates it will reach 600-700 billion rubles by February 1, 2008. The National Prosperity Fund is to be invested into more risky instruments, including the shares of foreign companies. Shyhkin, Maxim. “Stabilization Fund to Be Converted into National Prosperity”. Retrieved 2007-08-02.

The historic city built by Peter the Great in 1703 years, the name to the Orthodox Church of Saints Peter named, it is called St. Petersburg. 1712 to 1918, it has been the capital of Russia, hence the name “Northern Capital”.

After the 1914 outbreak of World War I, Russia and Germany are the enemy, then Russia Slavic cities, “Spengler” instead of “Castle” from the German, St. Petersburg was renamed Petrograd (Petergrad). After the death of Lenin in January 1924, the city was renamed Leningrad (the Leningrad). After the disintegration of the Soviet Union in December 1991, the city resumed its original name St. Petersburg.

In Russian history, the city of St. Petersburg is also a hero. The 1917 February Revolution and October Revolution broke out here. “Aurora” cruiser shelled the Winter Palace now also leaning on the Neva river, the issue of the October Revolution, the first sound of cannons in the artillery head pointing to the Winter Palace.

In the Soviet era of the Great Patriotic War, the city by the German fascist army siege of 900 days and claimed the lives of hundreds of thousands of cold and hunger. But the heroic people of St. Petersburg to rely on their own courage, determination and confidence to guard their city, until the victory against the siege. The honorary title of the Great Patriotic War, the Soviet government granted to St. Petersburg, the “Hero City”, St. Petersburg, the human spirit has become a symbol of the Russian national spirit.

St. Petersburg, famous monuments, there are a large number of famous buildings of the 18th and 19th centuries: the Peter and Paul Fortress, Peter the Great Summer Palace, the Smolny Palace, the Hermitage, Kazan Cathedral, Isa Kiev Cathedral elegant building and colorful. The famous Winter Palace, located in St. Petersburg in Palace Square. Czar was overthrown in 1917, this former Tsarist palace has become a symbol of the October Revolution. In 1922 it became part of the adjacent State Hermitage Museum.

Many famous Russian poets and writers such as Pushkin, Lermontov, Gorky and other people have in this life and writing. The city also gave birth to cultivate the artistic celebrities of Glinka, Tchaikovsky and Shostakovich.

To the north of the Europe, you definitely will discover large grasslands that are due to the rich fertile soil. The huge benefit for Russia is seventy five% of the populace dwells in developed places that are in the western part of the country. Russia is known for its natural minerals like gas, oil, mines and timber. Hefty manufacturing business has flourished in Russian federation, in this region. Wheat, oats, barley, potatoes, sunflower are couple of of Russia’s farming products. The nation is rich in fish because of its geographic position, that is near to Sea.

Cattle farming is extensively done here. You may be astonished to know the affluent cultural and also medieval morals of the wonderful social groups found right here. In 1990′s Russia met a great monetary fix which resulted in losing control over socio-economic and political problems. Furthermore, when President Yelstin gave over the presidency to Mr. Vladimir in 1998, the region had to go through extremely. In addition to these kinds of unwanted effects, Russian federation continues to be a historic as well as ethnic tradition of the area. Russian federation is bestowed with roughly 2000 libraries, free galleries, about hundred theaters and night clubs to enliven its residents. There are numerous water fountains and even cascades, ponds and spots unveiling the Old Russian lifestyle and regime.

The mountain tops, volcanoes turned to ski inclines, enormous glaciers and twelve sea also increase the luxuriousness of Russia . There are substantial range of conservation areas along with nationwide theme parks wherein the delta of the Volga is popular for its Caspian rose or the lotus. Hot spring is yet another site of interest in Russia that has medicinal and natural and organic curing qualities. After USSR, Russia is the major and the potent nation amongst the rest. With such a splendid ethnical customs, precisely how can easily it be far behind in nurturing flowers ?

Russia imports flowers from all over the world to cater to their individuals. If you wish to give right flowers to any individual, anywhere in Russian federation, they are experts in their work. The renowned and popular flower shop in Russia is sendflowers.ru that has gone web based for over several years. Only by hitting the mouse at your own comfort and ease from home, it is possible to offer perfect flowers to almost any part in Russia. Flowers for each and every function are accessible with them and if in case you require expert assistance, their florist would certainly advise you.

It is indeed pleasant to shop with them. Their know-how and capability will provide you extreme fulfillment. Their professional florists set up the flowers for the suitable occasion and with precision. They present excellent items together with the order.

Vasily Zvyozdochkin, a doll maker and a craftsman, was the first to introduce these handmade dolls. The concept of nesting dolls is to place one doll inside the other in a nested fashion, until there is a tiny little doll inside. Since these are placed one inside the other, every doll can be separated and the separated doll contains a similar doll but in a smaller size.

Although these dolls are synonymous of Russian culture, there are several other handicrafts that are presented as popular Russian souvenirs. Prominent among them include Baltic Amber, Lacquer Boxes, Christmas decorative and even Khokhlomas.

As we all know, Amber is a popular material used in making highly sought after jewelry. The specialty of Amber is that each piece of amber is truly unique and when you rub the amber, it emanates light. There’s hardly a Russian woman whose collection does not contain amber jewelry. Everything right from earrings, rings, bracelets, and necklaces are made from Baltic Amber.

But if you are not a fan of amber jewelry, there’s a wide variety of things to choose from. For example, you could choose from Faberge eggs, lacquer boxes, ceramic figurines, Cheburashka dolls or many other unique Russian collectibles. Thanks to the internet, there are hundreds of online retail shops in the United States that sell Russian souvenirs. Choosing from a US company has its own advantages. These online stores with their base in the United States are often established by Russian artisans and hence assure of quality. In addition, if you would like to gift these to friends and family member, these companies also provide gift-wrapping service.

Therefore, the next time, you are looking for a gift for a wedding or a birthday; do not look further than an online shop that sells Russian handicrafts. Due to the late entry of Russians to the globalization process, there’s very little information about Russia, that’s known to the world. But it’s the Russian dolls that continued to the beacon for popular Russian culture.

When you reach the Russian airport, the agent will take you to the hotel where you reserved your accommodation. You can stay there in the hotel for the rest of the day for leisure and relaxation. Many agencies are there in the country to offer you hotel reservation services. Many hotels are there in the country that offer the visitors the accommodations at all budgets. You can easily find two-star to five-star deluxe hotels across the county. The hotels like Armenia Hotels, Azerbaijan Hotels, Belarus Hotels, Georgia Hotels, Kazakhstan Hotels, Kyrgyzstan Hotels, Latvia Hotels, Lithuania Hotels, Tajikistan Hotels, Turkmenistan Hotels, Ukraine Hotels, and Uzbekistan Hotels offer the visitors fantastic accommodations. Since most of the travel agencies have good relationship with the hotels, they can get you substantial hotel discounts. The agents will provide you 24-hour customer service until you successfully complete your trip.

The city of white nights, Saint Petersburg, is one of the most splendid cities in the world. Next to Moscow, it is the largest city in Russia. It is the most significant city, culturally and economically, in the country. State Armory is the oldest museum present in Russia. It consists of lots of ancient armor and weapons. Besides these weapons, it also has beautiful crown jewels, bejeweled imperial scepters, gold-crusted icons, and delicately carved thrones. The Winter Palace is a beautiful site to visit, which accommodates the Hermitage Museum. It is one of the world’s biggest art and cultural museums. This museum contains huge collection, of about 65,000 items, which includes some of the most important historical art. The Peter and Paul Fortress houses the Peter and Paul Church that comprises the tombs of the Russian rulers from Peter the Great to Alexander III.

Moscow, the capital of Russia, comprises many attractions. The splendor of the Red Square and the Russian White House would delight you a lot. There are many museums and art galleries are present in Moscow that show off unique treasures of the greatest artists of the world. There are also ballet, folk art, opera, and many other entertainments in Moscow. Saint Bazil’s Cathedral was constructed in the sixteenth century to immortalize the triumph of Russia against Kazan khanate. The Kremlin is a wonderful and ancient ensemble of Moscow, which on the left bank of the river Moskva. The primary historical evidences of Arbat relate to 1493, the street was referred in an account of the fire of a major city. In the nineteenth century, Arbat became a popular locality for the nobility and creative intelligentsia of Moscow.

What does the Russian military look like? Shortly and simply, it consists of naval forces, land forces, air-force and space forces. You may guess the “prescription” of each from the name, maybe with the only exception for the space forces. You should apply to Mr Lucas (Hollywood) in case of the space war. Naval forces consist of ships and submarines. Air-forces consist of bomber force and fighters (there is also the transport aircraft) Land forces are: infantry, artillery, telecommunication, sappers and others. Frontier troops and internal forces are under the MVD and FSB jurisdiction and fulfill specific tasks that won’t be covered or spoken about in this article.

The modern Russian army was formed in 20ies of the previous century, after the Revolution in 1917 and the ruling party – the communists – spent a lot of efforts to form the idea content of the soviet army. The general liability for military service was declared. All young men at the age of 18 and had no health problems was obliged to serve in the army. Speaking the elevated language of ideologists “holy and honorable duty”, at least posters with such content decorated all of the military units.

A young man was called up for the certain period of time and the most unfortunate one serve in the naval forces. The naval service lasted almost twice longer than in any other forces of the Russian army. Nonetheless the military service remains one of the most peculiar event in the life of all men. Romantic people say: “those who didn’t serve – will do, those who didn’t – will never forget” and the pessimists say: “who served in the army never laugh in circus”

As the rest of military forces on this earth – has officership and the ranks, may the praporshiks and warrant officers forgive me! The backbone of the Russian army is carved out in special military colleges and institutes of the Military ministry. Since 70ies of the previous century almost of the colleges became institutes and universities and provide high civil education along with the military. I should say that there was huge number of such institutes across USSR. However there were (and still are) actual reasons for that, firstly connected with the large country area and its geopolitical situation. I should mention that military institutes were really good at preparing commander’s specialists who become really experienced after the first year of service being constantly on guard and duties.

Russian cuisine is very famous all over the world, it is not a very well known internationally. The Russian diet usually consists of soups, potatoes, meat, cabbage, and bread. But that does not mean that Russian cuisine is boring and plain. Russians are very clever people, especially with their cooking. Walking around the streets of St. Petersburg, you can find a small stand, café, or Russian restaurant on almost every corner. The main dishes of Russian cuisine are: borscht, blini, golubtsi, vareniki, pelmeni, and bubliki. Usually, every meal in Russia is served with bread. Russian black bread is a personal favorite of many. If one ever has the chance to try any of these dishes, they will be very satisfied.

There are many amazing Russian foods, but few are as delicious as pelmeni. They are a very popular dish throughout Russia and have a long history that can be traced back to their origins in Siberia. Though they have been called by many names in different cultures, to most Russians they are simply known as a wonderful and spirit warming dish to have on a cool winter day.

The dish “pelmeni” is believed to have originated in Siberia where they were known as “Siberian dumplings,” that could be easily made by the hundreds or thousands and then stored over the long winter outside to be used as needed. They are very close cousins of “pot stickers” that are found in Asia or “pierogies” or any other dumpling that you find in many different cultures around the world.

Borscht is the most famous Russian dish. A traditionally Ukrainian-Russian soup, borscht is full of vitamins and minerals. One can find different kinds of borscht all around the country. The most famous borscht is Ukrainian borscht, but Russian versions are everywhere. Borscht is full of meat, potatoes, carrots, beets, sour cream, dill, and cabbage. Borscht is always better the second day. A whole pot full of the soup can last for a whole week. A Russian favorite, borscht is always good for any meal of the day. Cold or hot, borscht never fails to fill your hungry stomach, and leaves you wanting more every time.

Blini are a quick meal that also makes one crave for more. Similar to a crepe, Russian blini are found everywhere in restaurants, cafes, or small stands on the streets. Cheap, easy, and tasty, blini can be filled with almost anything. From chocolate, to sour cream, if you can imagine tasty blini, chances are that Russians perfected it already.

Most of traditional Russian meals are not spicy. However, being such a vast land, Russia inevitably happen to be the place where East and West would cross their paths. Roads from Asia lead to Europe – all the way through Russian spaces. Apparently, getting spices and other condiments, not custom to original Russian foods, was much easier business for cooks in Russia, than it was for Europeans. The fact that this land had been a place of many crossroads also explains why Russian food has meals similar to those in many different countries. For example, Russian vareniki or pelmeni are very similar to ravioli from the West and dumplings from East.

Russia has numerous resorts, mainly on the Black Sea and in Caucasus. The popular tourist areas are: Saint-Petersburg, Moscow, the cities of the Golden Ring, Volga River, and Lake Baikal. Russian main exports are oil, gas, coal, steel, non-ferrous metals (aluminum, nickel, and copper), machinery, equipment, weapons, chemical fertilizers, and wheat. Russia’s main imports are: industrial machinery and equipment, cars and trucks, medicines, clothing and footwear.

The main food products produced in this country are: meat, sausages, fish products, vegetable oil, tea, wine, beer and mineral water. Russia exports beer to around 50 world countries. The country has one of the world’s leading agricultural machinery manufacturers; 10% of the world’s arable lands are in Russia. Main crops grown here are: grains, sugar beet, sunflower, potato, and flax. The main grain for export is wheat.

Russian economy is heir to the Soviet economy, which underwent substantial changes in the 90′s – after the collapse of the USSR. The main sectors of the Russian economy are: the service sector (49% of GDP), manufacturing (16% of GDP), mining (9.0% of GDP), construction (5% of GDP), agriculture, forestry and fisheries (4% of GDP), production and distribution of electricity, gas and water (3% of GDP).

Let’s take a look at this country’s wealth by area. Western Siberia is rich in oil and gas. Eastern Siberia is renowned for hydropower, nonferrous metallurgy, and the forest industry. The Far East is rich in gold, diamonds, and seafood. The Northern region has coal, oil, gas, metals, forests, and fish. The Central Black Soil Region and Northern Caucasus are known for their agriculture and food industry. North-West, Center, Volga-Vyatka, Ural, and Volga have prominent engineering, chemical industries, and energy production.

Russia’s poor are able-bodied inhabitants of villages and small towns, who have children. The country has a high proportion of residents at or below the official poverty line among education, culture and health workers. One of the major problems of contemporary Russia is a large difference in income between the rich and poor.

In late 2008 and early 2009, the Russian economy was hurt by the world crisis. Exports and imports declined, and cheap loans became out of reach. The crisis has triggered Russia’s stock market collapse, ruble devaluation, reduced GDP, lower income, and higher unemployment. Yet, the losses were lower than anticipated at the beginning of the crisis. In part this is due to the large-scale anti-crisis measures taken by the country’s government.

Recently tourist industry has been developing in the cities of the Golden Ring of Russia, so almost in any city you can find a suitable hotel, cafe or restaurant. For this reason, prices for these services are rather high, especially in Vladimir and Suzdal. It takes usually a day to see main places of interest in a city, but if you want to visit all museums and the neighborhood, feel free to stay in a city for a week.

There is no approved list of cities that comprise the Golden Ring of Russia, but certainly it includes Vladimir, Suzdal, Sergiev Posad, Rostov, Yaroslavl, Kostroma. The route covers parts of Moscow, Vladimir, Yaroslavl, Kostroma, Ivanovo regions.

There are represented all stages of development of ancient Russian architecture in towns and villages: majestic temples of white stone of 12-13 centuries, buildings with tented roofs of 6 th century, bright ornament of 17 th century, works of architecture and art school in Rostov, Yaroslavl, Suzdal.

The UNESCO World Heritage List includes: Architectural Ensemble of the Trinity-Sergius Lavra; The Kremlin, Pokrovsky and Savior Euthymius monastries in Suzdal; Church of Boris and Gleb in Kideksha; Assumption and Demetrius Cathedrals in Vladimir. Numerous Orthodox shrines, monasteries and temples of Russia located in this region, attract pilgrims.

The area of the Golden Ring of Russia is famous for works of folk art. There are gathered samples of ancient crafts in museums: wood and bone carving, handiworks of killed lace-makers and jewelers, lacquer miniature and painting on enamel (enamel). The nature of central Russia is attractive in all seasons.

Scenic are the places of the Volga expanses, with quiet forest streams, pine and birch woods. It is most comfortable to travel by car by this route. Suzdal, Pereslavl-Zaleski can be reached only by car. The major cities can also be reached by rail. Suburban trains go to Vladimir from Moscow. A suburban train Moscow – Yaroslavl passes through Sergiev Posad, Alexandrov, Rostov Veliky.

Uglich, Rybinsk, Tutaev, Yaroslavl, Kostroma, Ples stand on the Volga, Moore is located on the banks of the Oka River. Visiting these cities is included in the program of river cruises. Not for nothing “Moscow Around the World” cruises are often confused with the Golden Ring of Russia route.

While virtually every place you might visit during your travels here lives and breathes this culture, it is often most easily absorbed while visiting several of the country’s attractions.

The Hermitage Museum and Russian Museum in Saint Petersburg are filled with brilliant art collections, while the many hamlets and small towns of the countryside exude a different sort of lifestyle. Old Cloisters and castles help visitors reflect on Russia’s past and give the history of the country and interesting perspective.

Russia is home of the longest river in Europe and has nine different time zones to pass through while traveling the Trans Siberian Railway. The Bolshoi Ballet, located in Moscow is a famous destination for those that bring their husband or wife. Moscow is also home to Russia’s biggest structure, St Basil’s Cathedral. Oh, and be sure to remember Russia’s answer to Shakespeare, Pushkin. Museums are always a way to escape the realities of life and explore new thoughts; this one is no different.

The more you travel the country, the more you will come to realize just how extensive the history and traditions of the country truly are. Russia is also a culturally diverse country, with dozens of ethnic groups each contributing their own languages, religious beliefs, customs and folk music. The rich blend that results from the cosmopolitan mixture is fascinating to discover and visitors will find that there is always something new to explore and learn about.Russia has a rich cultural heritage that is expressed in the cities, the countryside and the small towns of this striking and proud nation.

Another aspect of Russian culture that you may consider investigating is its performing arts. For centuries Russian theatres have been housing some of the top performances in the world in terms of ballet and opera. There are a variety of other theatrical productions worth seeing – such as drama and musicals – and visitors may even consider visiting a cinema during their stay to discover a more youthful form of theatrical expression.

So come to this exquisite country and discover the rich cultural heritage that it has to offer. Whether you enjoy art, theatre, history, architecture or local customs, Russia has it all. Make sure that you explore Russian culture the next time you visit this fascinating country!